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  • manylumen manylumen Sep 14, 2009 7:05 PM Flag


    I think it was Verenex oil that China had wanted to buy from a Canadian oil company operating in Lybia and Lybia blocked the sale. I am thinking we are going to see a lot more of this going forward. Further how safe assets are in a foreign country is always an issue. Nationalization of oil assets is always a risk. Some free market countries with oil assets allowed to be acquried and with reasonable trade/tax laws are going to fetch a premium. I am thinking oil sands in Canada are starting to look a lot more attractive given world events. "Cheap oil" in places like Nigeria that cannot be pumped due to terrorism or in Venezuela or Lybia that get nationalized dont look so cheap later on. jmho.

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    • However oil sands are incredibly unpopular with environmentalists and do not jive well with the green movement. Oil sands stocks like BQI have tanked since it was clear Obama would win.

      Maybe long term these are a great buy but there is serious risk.

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